Measuring Some Factors Influencing Managerial Risk Attitude: Case Study in Greek Department of Unilever

Abstract

In this study we try to explore the concept of “factors influencing managerial risk attitude” in a holistic context. The main focus of the research is on “factors influencing managerial risk attitude” and its relation with “Case Study in Greek Department of Unilever”. The study uses a quantitative approach using questionnaire and interviews as tools and it also analyzes the collected data through SPSS, resulting in the results which help us to learn the factors which influence managerial risk attitude.

Table of Contents

ABSTRACT2

CHAPTER 1: INTRODUCTION5

Background5

Research Background9

Research questions and methods applied9

Aims of the Study9

CHAPTER 2: LITERATURE REVIEW10

Defining Risk and Uncertainty10

Risk acceptance from non-linear utility theory21

Risk and Strategy Formulation22

The Risk Revolution24

The Idea That Changed the World26

The Evolution of Risk Management27

Importance of accomplishing this research based on previous studies29

Importance of risk attitudes on managing a Business31

Importation and importance of Unilever in Greece32

CHAPTER 3: METHODOLOGY44

Correlation49

Correlation Example49

Designing Case study55

Describing Factors56

Research Hypothesis56

Research Philosophy56

Quantitative Approach56

Quantitative Collection method57

Quantitative Pilot case study57

Qualitative Approach59

Qualitative Pilot case study60

Qualitative Data collection60

Resources60

CHAPTER 4: RESULTS AND DISCUSSION62

The models are based on risky forecasts78

Unfamiliarity with risk-assessment models78

Using certain conventional calculations in decision-making is sufficient for risk assessment79

Risk Management Strategic Approaches89

CHAPTER 5: CONCLUSION94

REFERENCES98

Chapter 1: Introduction

Background

Risk has become a progressively significant theme over the last couple of years and is actually on the agenda of accounting benchmark setters, controllers and the buying into community. Risk sways all facets of business life and is of foremost anxiety to all stakeholders encompassing accountants, managers, investors, controllers, workers, clients and suppliers. Concern about the increasing grades and complexity of risk in diverse economic and merchandise markets has furthermore been emphasised in the media. Several accounts have been released by managing assemblies sponsored by The Stock Exchange (Cadbury and Turnbull) and expert bodies (The Institute of Chartered Accountants in England and Wales, ICAEW. These accounts have suggested that planks of controllers supervise business risks and report on such risks to investors.

Both U.K. and worldwide organisations support the revelation of risk-related data to assemblies that are involved in the present presentation and long-run survival of an enterprise, mainly through the intermediate of the business economic statements. However, the risks that are emphasised are often recounted in only very general periods and alter from one report to another. Very couple of these accounts recognise the exact risks that are significant or characterise which stakeholders should be granted risk-related information. None of these accounts have revised how managers make risky decisions or have searched their outlooks on the factors that influence the risk of their specific firms. This study endeavours to connection this gap by searching to discover diverse facets of attitudes to risk in U.K. firms; these facets appear utilising a structure from the latest psychology literature. This publication proposes those decision characteristics, organisational characteristics and the individual traits of the decision-maker all assist to interpret the risky alternatives that are made. A distinct part of the publications focuses on the influence of economic anguish on decision ...